San Leon Energy PLC Update on investment in the Oza field, Nigeria (9299Q)

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RNS Number : 9299Q

San Leon Energy PLC

01 July 2022

1 July 2022

San Leon Energy plc

("San Leon" or the "Company")

Update on investment in the Oza field, Nigeria

Further to the Company's announcement on 3 May 2022, San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update in respect of its potential follow-on investment in the Oza oil field in Nigeria ("Oza").

San Leon's announcement of 3 May 2022 noted that the Company had an option until 30 June 2022 (the "Option Period") to provide a further loan of US$2.5 million to Decklar Resources Limited ("Decklar"), in order to increase its shareholding in Decklar from 11% to 15% (or otherwise accept the pro rata reduction in its shareholding in Decklar to 11%).

San Leon is in discussions with Decklar in respect of potentially extending the Option Period. The Company will release further announcements as and when appropriate.

Enquiries:

 
 San Leon Energy plc                                     +353 1291 6292 
 Oisin Fanning, Chief Executive 
  Julian Tedder, Chief Financial Officer 
 Allenby Capital Limited 
  (Nominated adviser and joint broker to the Company)    +44 20 3328 5656 
 Nick Naylor 
  Alex Brearley 
  Vivek Bhardwaj 
 Panmure Gordon & Co 
  (Joint broker to the Company)                          +44 20 7886 2500 
 Nick Lovering 
  James Sinclair-Ford 
 Tavistock 
  (Financial Public Relations)                           +44 20 7920 3150 
 Nick Elwes 
  Simon Hudson 
 Plunkett Public Relations                               +353 1 230 3781 
 Sharon Plunkett

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